Vehicle utilisation data released today by Loopit for November has revealed that demand for commercial vehicles through car subscription continues to accelerate, with Mazda BT-50, Ford Ranger and Toyota Hilux occupying the top three positions for most-subscribed vehicles above USD $30,000.
Loopit says this demonstrates the opportunity and growing demand for more flexible access to business fleets, especially as interest rates and operating costs continue to rise.
“The car subscription model is a win-win for sole traders and businesses of all sizes who gain access to a fleet of vehicles to suit their needs, without the financial commitment of a long-term lease.” says Michael Higgins, co-founder and managing director at Loopit.
Elsewhere, the Cupra Formentor has moved into sixth spot for vehicles over USD $30,000 which also earns the freshly-launched brand 16th position in the overall manufacturer rankings ahead of brands such as Honda and Polestar.
Meanwhile, Polestar continues to hang on to its lead in the EV category despite fresh Tesla supply, likely thanks to the bulk orders of the Polestar 2 finding their way into car subscription fleets. In fact, Polestar has increased its lead over the Tesla Model Y despite earlier predictions to the contrary.
The VSU Index measures vehicle utilisation on subscription rather than individual vehicle volume. Due to the inherent flexible nature of car subscription, vehicle utilisation is measured by considering the cumulative number of days in which any given vehicle is utilised within an active subscription during the monthly reporting period. In this way, we equally consider utilisation for individual vehicles being utilised across multiple subscribers, as well as individual vehicles that remain with the same subscriber for longer periods.
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